Legal & General Group Plc Makes New Investment in Vulcan Materials Company $VMC

Legal & General Group Plc bought a new position in Vulcan Materials Company (NYSE:VMC) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 626,075 shares of the construction company’s stock, valued at approximately $184,698,000. Legal & General Group Plc owned approximately 0.48% of Vulcan Materials as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Burkett Financial Services LLC purchased a new position in Vulcan Materials in the 2nd quarter valued at approximately $25,000. Meeder Asset Management Inc. raised its holdings in Vulcan Materials by 71.7% during the 1st quarter. Meeder Asset Management Inc. now owns 103 shares of the construction company’s stock valued at $28,000 after acquiring an additional 43 shares during the period. Birchwood Financial Partners Inc. purchased a new stake in shares of Vulcan Materials during the fourth quarter worth $29,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Vulcan Materials during the third quarter worth $30,000. Finally, Reflection Asset Management bought a new position in shares of Vulcan Materials in the fourth quarter worth $37,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on VMC shares. Raymond James Financial reiterated an “outperform” rating on shares of Vulcan Materials in a research note on Wednesday, July 15th. UBS Group cut their target price on Vulcan Materials from $350.00 to $349.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. Wall Street Zen lowered Vulcan Materials from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Stephens upped their price target on Vulcan Materials from $330.00 to $340.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Finally, Oppenheimer began coverage on shares of Vulcan Materials in a report on Thursday, May 28th. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $328.64.

Vulcan Materials Stock Down 0.1%

VMC opened at $273.79 on Thursday. The firm has a market capitalization of $35.48 billion, a P/E ratio of 32.32, a price-to-earnings-growth ratio of 1.97 and a beta of 1.06. Vulcan Materials Company has a one year low of $252.35 and a one year high of $331.09. The company has a fifty day moving average price of $287.90 and a 200-day moving average price of $286.71. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.76 and a quick ratio of 1.20.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings data on Wednesday, July 29th. The construction company reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.46 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.14 billion. Vulcan Materials had a return on equity of 13.05% and a net margin of 13.75%.The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.42 earnings per share. Equities research analysts expect that Vulcan Materials Company will post 9.29 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, August 13th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, August 13th. Vulcan Materials’s dividend payout ratio is currently 24.56%.

Insider Buying and Selling at Vulcan Materials

In other Vulcan Materials news, SVP David P. Clement sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $285.10, for a total value of $570,200.00. Following the sale, the senior vice president owned 6,716 shares of the company’s stock, valued at $1,914,731.60. This trade represents a 22.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.65% of the stock is currently owned by insiders.

About Vulcan Materials

Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company’s primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.